ANB BOD recommends distributing SR900 mln cash dividends for H2

Arab National Bank (ANB) announced on Wednesday the recommendation of the Board of Directors on 20/12/2022 to the General Assembly to approve the distribution of interim cash dividends to the bank’s shareholders for the second half of 2022.
The bank stated that the number of shares eligible for profits is 1.5 billion shares, at the rate of 0.60 halalas, after deducting zakat for each share, provided that the eligibility is for the bank’s shareholders who own shares at the end of the day of the General Assembly and who are registered with the Securities Depository Center Company at the end of the second trading day from the date of the meeting to be held during The first quarter of 2023.
This is in addition to what was distributed in the amount of (750 million riyals) for the first half of 2022. Thus, the total amount that were distributed and will be distributed for the fiscal year 2022 is (SR1650) million at (1.10) Halalah per share, which represents 11% of the nominal share value after deducting zakat.
We would like to draw the attention of the non-resident foreign investors that the cash dividend distributed, which is transferred by the resident financial broker, is subject (when transferred or credited to the non-resident foreign investor’s bank account) to a withholding tax of 5%, in accordance with the provisions of Article 68 of the Income Tax Law and Article 63 of its Implementing Regulations.
On this occasion, the bank would like to remind its shareholders to ensure that their dividends against previous years are received. Shareholders holding share certificates must deposit these certificates in their investment portfolios. They can communicate with the Shareholders Affairs Department or approach the nearest ANB branch to update their addresses, and ensure their profits from previous years are collected.